This Week’s Idea: CL Daily Long Idea

I share my top trade setups whenever I have a big, new idea for the market. And to invite a global audience, I provide the core chart and discussion on my TradingView page.

As regular readers know, I’ve been watching the crude oil (CL) futures market over the past few days and weeks.

It has been rallying off of its longer term up trend line for a while now, but it just broke back into the buy zone on the daily time frame.

This is setting up a potential bullish push toward the daily up Fibonacci level overhead, so let’s dive in and take a close look…

Aiming for the Up Fibonacci

Here’s how I see the CL chart setting up for this week’s idea…

Crude Oil (CL) Futures Contract Price and Technical Analysis – Source: TradingView

The CL daily time frame broke the short term down trend line and has entered into the buy zone.

The market has an up Fibonacci with an extension price point 104.39, about +1,588 ticks above the market.

As long as the market stays in the buy zone above the short term down trend line, it will be a good idea to turn to the one hour time frame and look for low prices in the buy zone.

The Bottom Line

With inflation on a fast-track, you need to know how to amplify your gains.

To see how I do just that by trading markets like crude oil (CL) futures, check out the link in the P.S. below…

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Keep on trading,

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Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

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